Leased Retail Condo Restaurant
For Sale
$3,950,000
950 Massachusetts Avenue, Cambridge, MA 02139
Centrally located retail condo is fully leased to a longstanding neighborhood restaurant and Ubreak I Fix.
Property Size5,481 SF
Price / SF$720.67
Days on Market222
Property Features for 950 Massachusetts Avenue
General Information
Standard status
Active
Size
5,481 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Year Built
1989
Tenancy
Multi
Listing Agency:
Boston Realty Advisors
Listed By:
Whitney Gallivan
(413) 768-9848
Source:
Wandamooney
Added: Jan 23
Changed: Sep 2
Last Checked: Sep 1 at 8:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Boston Realty Advisors
Investment Insights
Based on property information with market context.
This centrally located retail condo is offered for sale as a fully leased investment. The space is occupied by a longstanding neighborhood restaurant and Ubreak I Fix, providing an established retail mix within the property.
The property is located at 950 Massachusetts Avenue in Cambridge, Massachusetts.
The offering includes the 5,481-square-foot retail condo configuration as provided in the listing information.
The property is located at 950 Massachusetts Avenue in Cambridge, Massachusetts.
The offering includes the 5,481-square-foot retail condo configuration as provided in the listing information.
Key Highlights
- Retail condo built in 1989
- Fully leased to a longstanding neighborhood restaurant
- Fully leased to Ubreak I Fix
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$120,817
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,416,340
$2.4M
Cap Rate 7%
$1,725,957
$1.7M
Cap Rate 9%
$1,342,411
$1.3M
Market Conditions
NOI Build-Up for 5,481 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$171.0K $31.20/SF
− Vacancy
−$9.9K −$1.81/SF
EGI
$161.1K $29.39/SF
− OpEx
−$40.3K −$7.35/SF
NOI
$120.8K $22.04/SF
Area
Cambridge, MA
Vacancy
5.80%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,416,340
Cap Rate 7%
$1,725,957
Cap Rate 9%
$1,342,411
Alternative Uses
Best Use
Specialty Retail
$1.73M
$1.51M – $2.01M
NOI $120,817 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$1.54M
$1.35M – $1.79M
NOI $107,619 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$4.23M
$3.70M – $4.93M
NOI $295,791 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,569
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Shops & Services 35%
Dining 12%
Home Improvements & Furnishings 3%
Whole Foods Market
Groceries
14,071 visits/mo
0.4 miles
TD Bank
Shops & Services
4,418 visits/mo
0.5 miles
Citizens Bank
Shops & Services
3,970 visits/mo
0.3 miles
Blue Bottle Coffee
Dining
2,529 visits/mo
0.4 miles
Enterprise Rent-A-Car
Shops & Services
1,325 visits/mo
0.3 miles
Demographics for 02139, MA
39,525
Population
16,930
Households
2.3
Avg Household Size
30
Median Age
78%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
24,703
Density / Sq Mi
$124,648
Median Household Income
$61,025
Median Earnings
$2,613
Median Rent
$1,066,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Centrally located retail condo is fully leased to a longstanding neighborhood restaurant and Ubreak I Fix.
Where is this storefront property located?
The property is located at 950 Massachusetts Avenue Cambridge, MA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Retail condo built in 1989; Fully leased to a longstanding neighborhood restaurant; Fully leased to Ubreak I Fix
